In my last post, I shared five short-term strategies for surviving the downturn by using design thinking as a roadmap to connect your business with consumers. Once you've weathered the worst of the economic storms, it's time to plan for the future. To survive and thrive into the next upturn, you must innovate now. Innovation fueled by consumer insight will propel your company into the future, empowering you to rocket past your competition.
Here are five ways you can position your company to thrive as the economy recovers.
Reduce Costs and Fortify Branding Through Design: Structural engineering can be used to maintain or increase strength while reducing material costs. Smart badge redesign can decrease costs while increasing perceived value. Intelligent engineering and design that ensures a common design language across product lines can increase the use of common parts in a way that both minimizes tooling costs and fortifies your brand.Just as steel comes out of the firing process tempered and stronger than before, design thinking will empower you to guide your company through the recession to emerge stronger than it was pre-downturn. And when you show consumers you're part of the solution, they'll not only support you, they'll evangelize your brand.
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Roadmap for Recovery: Five Ways to Help Your Company Survive Now
Read more of Ravi Sawhney's Design Reach blog
Ravi Sawhney is the founder and CEO of RKS, a global leader in strategy, innovation, and design.
Since founding RKS nearly 30 years ago, Sawhney has earned a variety of top honors in the design industry, and assembled a client list that includes HP, Intel, LG, Medtronic, Seiko, Sprint, and Zyliss, among many others. In the process, RKS has helped generate more than 150 patents on behalf of their clients.
In 2004 Sawhney was named chairperson of the Industrial Design Excellence Award program, where he created the IDSA/BusinessWeek Catalyst award for products that generate measurable business results. Most recently, he was named Executive Director of Catalyst to direct its evolution into a program to develop case studies illustrating design's power to effect positive change.
Sawhney also invented the popular Psycho-Aesthetics® design strategy, which Harvard adopted as a Business School Case Study. He is a regularly featured lecturer at Harvard Business School, USC's Marshall School of Business, and UCLA's Anderson School of Business, where he teaches this business-driven design tool.
In addition to RKS, Sawhney has played an integral part in the founding of several other businesses, including Intrigo, an innovative computer accessory company; On2 Better Health, a health products company; and RKS Guitars, best known for its reinvention of the electric guitar.